Assenagon Asset Management S.A. Increases Stake in Insulet Co. (NASDAQ:PODD)

Assenagon Asset Management S.A. grew its stake in shares of Insulet Co. (NASDAQ:PODD) by 8.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 104,392 shares of the medical instruments supplier’s stock after buying an additional 8,102 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Insulet were worth $27,254,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. raised its holdings in Insulet by 84.1% during the 3rd quarter. Blue Trust Inc. now owns 127 shares of the medical instruments supplier’s stock valued at $30,000 after buying an additional 58 shares during the last quarter. Venturi Wealth Management LLC increased its position in shares of Insulet by 633.3% in the third quarter. Venturi Wealth Management LLC now owns 154 shares of the medical instruments supplier’s stock valued at $36,000 after acquiring an additional 133 shares during the period. TD Private Client Wealth LLC raised its stake in shares of Insulet by 32.6% during the third quarter. TD Private Client Wealth LLC now owns 228 shares of the medical instruments supplier’s stock valued at $53,000 after acquiring an additional 56 shares during the last quarter. Friedenthal Financial purchased a new stake in shares of Insulet during the fourth quarter worth about $57,000. Finally, Versant Capital Management Inc grew its stake in shares of Insulet by 106.1% in the fourth quarter. Versant Capital Management Inc now owns 305 shares of the medical instruments supplier’s stock worth $80,000 after purchasing an additional 157 shares during the last quarter.

Insulet Stock Performance

Shares of PODD opened at $272.86 on Friday. The company has a quick ratio of 2.80, a current ratio of 3.68 and a debt-to-equity ratio of 1.21. The stock has a market cap of $19.14 billion, a P/E ratio of 46.72, a P/E/G ratio of 3.41 and a beta of 1.22. The business’s 50 day moving average price is $265.59 and its 200-day moving average price is $231.62. Insulet Co. has a 52 week low of $160.19 and a 52 week high of $279.77.

Wall Street Analyst Weigh In

A number of research firms have commented on PODD. Canaccord Genuity Group upped their price target on Insulet from $269.00 to $304.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Raymond James upped their target price on Insulet from $213.00 to $260.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Barclays raised their price target on Insulet from $220.00 to $234.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. BTIG Research boosted their price objective on shares of Insulet from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Wells Fargo & Company raised their target price on shares of Insulet from $290.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Insulet currently has an average rating of “Moderate Buy” and a consensus price target of $272.81.

Insiders Place Their Bets

In other news, CAO Lauren Budden sold 915 shares of Insulet stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $275.62, for a total value of $252,192.30. Following the completion of the transaction, the chief accounting officer now owns 5,733 shares of the company’s stock, valued at $1,580,129.46. The trade was a 13.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.47% of the company’s stock.

Insulet Profile

Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. The company's Omnipod platform includes the Omnipod 5 Automated Insulin Delivery System (Omnipod 5) which includes a proprietary AID algorithm embedded in the Pod that integrates with a third-party continuous glucose monitor to obtain glucose values through wireless bluetooth communication; Omnipod DASH that features a bluetooth enabled Pod that is controlled by a smartphone-like Personal Diabetes Manager with a color touch screen user interface; and Omnipod GO, a standalone, wearable, insulin delivery system that provides a fixed rate of continuous rapid-acting insulin for 72 hours.